Default spatial interpretation is changed. Check your preferences.
That didn't fix it, any other ideas?
If you changed the preferences you need to set some new keyframes for it to show up.
Select a motion path with 3 keyframes. Press the G key to bring up path editing tools. Hold down the alt/option key to bring up the convert vertex tool and click and drag on a motion keyframe in the comp window.
If that doesn't work show us a screenshot with all properties revealed on the problematic layer.
This is AE 101 keyframing technique.
That worked, although it's a few extra steps that I shouldn't have to take (and haven't prior to this). I held down alt by mistake at first and it only gave me one handle, but if I just tap alt and then click--->drag away from the point, it does provide me with a handle in each direction, which is what I was ultimately needing. Here is a screenshot of that layer although it's pretty standard.
When I selected a keyframe that was in between the beginning and end of the motion path, pressed G, and then hit alt it does exactly what I want it to, but usually it adds the handles automatically, and want it to always. This extra step is very annoying because I'm dealing with a lot of motion paths and plan to in the future as well.
I'm not in front of my AE machine at the moment, but I believe that if you right-click on a keyframe, you can change the default SPATIAL interpolation to Bezier.
If it isn't there, you can always do a search in AE Help on the topic of keyframe interpolation and it will show up.
Set spatial interpretation to Bezzier and your behavior will return for new keyframes. Ones already created will have to be modified as explained.